Summary: Rolls-Royce Holdings is planning to lay off around 2,500 employees in an effort to reduce costs, according to Sky News.
Rolls-Royce Holdings, the British engineering company known for its luxury cars and aerospace engines, is preparing to cut approximately 2,500 jobs. The decision comes as part of a cost-cutting drive led by the company’s new CEO. The layoffs are expected to be implemented as early as Tuesday. Rolls-Royce has been facing financial challenges due to the impact of the COVID-19 pandemic on the aviation sector. In addition to job cuts, the company has been exploring other measures to reduce costs and preserve cash, such as tapping into government support programs and raising funds from shareholders. Rolls-Royce’s cost-saving plan aims to strengthen its financial position and ensure long-term sustainability in a challenging market.
Tags: Rolls-Royce, job cuts, cost-cutting, financial challenges, COVID-19, aviation sector